Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

&nbsp;

&nbsp;

&nbsp;

Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
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Ellen Walker

Off-the-plan property explained: What is stamp duty?

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Buildings in Melbourne will fling their doors open to the public in the fifth annual Open House Melbourne event.
This year 100 buildings with otherwise restrictive access will be open for public tours over July 28 and 29.
Open buildings include underground substations, council buildings, office buildings, architectural curiosities, university and hospital research labs, churches, museums, theatres and other places of historical, architectural, technological or sustainable interest.
Spokesperson Robert Larocca says some highlights this year include Gate Lodge at the Melbourne General Cemetery, the Port of Melbourne Boat Tours and the Portable Iron Houses.
“Many Melburnians are familiar with the Gate Lodge at the Melbourne General Cemetery but have never had the chance to go inside. The Lodge is classified by the National Trust and will be open on both days,” Larocca says.
“For the first time Open House features a tour of a working port. On the free tour visitors will learn how the Coode Canal, built in 1886, opened up the port and see the Victoria Dock, which was constructed in 1892. While not part of this tour, Princes Pier is also part of the program.”
“The three portable iron houses in South Melbourne are a unique remnant of a former time when innovative ways had to be found to house the new city’s population,” says Larocca. “First built in around 1850 the portable houses enabled the colony to provide good quality housing entirely sourced overseas.” Larocca says over five years Open House Melbourne has become a major winter event in the city, with last year’s event attracting 106,000 visits to 75 buildings. One highly anticipated location this year is the supposedly haunted St Kilda Esplanade Vaults, originally built in 1891 as arch supports for raised tram tracks.
Larocca says the most popular buildings from 2011 are back and new additions include the new Royal Children's Hospital, the Hamer Hall redevelopment and a host of residential buildings.
<cite><a href="https://www.openhousemelbourne.org.">For more information visit the Open House Melbourne website</a>. </cite><cite></cite>
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jchancellor-FAypfDUnLy

Open House Melbourne will see buildings citywide fling open their doors

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Sydney achieved an auction clearance rate of 63.6% over the weekend of July 21, according to Australian Property Monitors (APM).
APM has released a list of results from auctions in Sydney for the weekend of July 21. 
<a href="https://domainmastheads.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank">Click here</a> for the auction results, and click on each street address to see the property's marketing.
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po-LsXgBTHBmX

Sydney achieves 63.6% clearance rate: Weekend auction results

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{yoogallery src=[images/stories/2012/07//julylittlebay]}
Sydney auction vendors had their best Saturday result for two years, as limited supply and good demand boosted the clearance rate to 63.6%.
There were sales totalling $99 million, according to Australian Property Monitors.
It represented a jump on the 56.6% of the prior weekend and the 62.9% of the same weekend last year.
The top Sydney sale was an incomplete $2.5 million four-bedroom Little Bay house that sold through Mint 360 Property agent David Gray.
There were four bidders after 12 contracts were issued. The top bidder increased their offer to secure the offering.
It was estimated at least $600,000 needed to be spent having been unfinished for over two years ago. 
It was a mortgagee in possession sale, the then 525 sqm  building block having last sold in 2006 at $2,325,000. Neighbouring blocks of 625 sq m had fetched as high as $3 million.  
The virtual beachfront reserve house was in the Landcom developed estate within the master-planned coastal enclave Prince Henry development site.
It had been listed in October last year with hopes of reaching $3.2 million.
It was described then as an "unfinished masterpiece at $2 million below cost" when marketed through Michael Caspers of Geoff Speers Ltd.
Sydney’s median house price on the weekend was $817,500 and $592,250 for units.
Melbourne’s median house price was $634,000 and $451,500 for units, according to the Real Estate Institute of Victoria.
Melbourne agents secured a clearance rate of 62% from its 360 weekend listings compared to 59% on the prior weekend and 57% on the same weekend last year, according to the REIV.
“The auction market has clearly returned to trend with the past fortnight's results being in line with the year-to-date clearance rate,” said the REIV chief Enzo Raimondo.
Brighton recorded the weekend's dearest sale which was $2.75 million. It was a newly built two-storey house designed by architect Jon Friedrich with four bedrooms and four bathrooms. It came with a cinema, a 500-bottle wine-tasting room and a gymnasium and pool. It was sold by Nick Johnstone Real Estate.
Next weekend the REIV expects around 500 auctions.
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Little Bay mortgagee sale headlines Sydney's best weekend auction rate for two years

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As debate swirls as to the longevity of the mining boom, Westpac's decision to remove the remote NSW town of Broken Hill from a list of risky single-industry towns is certain to fuel debate about whether the bank has made the right call.
All the other towns on Westpac's list of single-industry towns - including Moranbah, Blackwater, Port Hedland and parts of Karratha - are heavily reliant on the mining industry, with Westpac effectively concluding that double-digit annual house price growth and double digit rental yields are not sustainable in the long-run.
According to Westpac, Broken Hill and the other mining town taken off the list - Kalgoorlie- Boulder in WA - have house price growth that has pulled back and rental yields in a more sustainable range.


“Broken Hill is still reliant on mining, but it has diversified into tourism. There are now lower mortgage delinquency rates, while house prices have slipped back and rental yields are between 5% and 6%," says Westpac spokesperson Danny John.
The bank's decision to update its list comes as a new report from Deloitte Access Economics says the mining boom may be over in just two years.
"The strong bit of Australia's two-speed economy won't stay strong for more than another two years or so'," says the report, authored by Chris Richardson.
"Mining companies are making it clear the current spike in investment is due to decisions taken a while back, whereas we are getting few new mining mega-projects across the line," says Richardson, who adds that the peak in mining projects may not be far off.
The Deloitte report does provide some vindication for Westpac ruling Broken Hill to be more than just a mining town, noting that energy giant AGL is currently constructing a new solar farm at Broken Hill.
But Westpac's decision to exclude Broken Hill from a list of “single-industry” towns has bemused LJ Hooker Broken Hill principle Jim Hickey.
“It seems very strange that Westpac would do that for Broken Hill under the current climate as I can’t remember it even being this bad in the housing/investment industry in my 27 years in the property industry and previous to that as a lending officer with the Rural Bank,” Hickey tells Property Observer.
“Broken Hill is very much a one industry town. If the mines fail, we will all fail,” he says.
Hickey says he has not sold a property to an investor since the GFC.
“I actually advertised a block of three units last year returning $19,500 per annum at $195,000 in Adelaide, Melbourne and Sydney and never got a phone call where previously my phone would have gone mad,” he says.
Hickey say the market has gone quiet again after enjoying five reasonable months of sales over the past six months.
Despite Hickey's concerns, figures compiled by SQM Research show that rents and median family income in Broken Hill has not risen at the kinds of unsustainable rates seen in places like Port Hedland (where houses rent for as much as $3,000 per week).
According to SQM, rents in Broken Hill have risen from $120 per week to $135 per week between 2006 and 2011 while family income has risen from $827 to $876 per week.
Realestate.com.au lists 323 properties for sale in post code 2880 (Broken Hill), among those a number of properties showing high rental yield potential, but below the 16% returns on offer in some mining towns.
Among those listed for sale aimed at investors is a <a href="https://www.realestate.com.au/property-house-nsw-broken+hill-110323293">two-bedroom cottage on a 532 square metre lot </a>listed by Zeta Bennett from First National Real Estate.
The property is listed for sale at $105,000 and Bennett says investors can expect rent of $200 per week for a property in this price range, equating to a yield of 9.9%
Bennett also has<a href="https://www.realestate.com.au/property-house-nsw-broken+hill-107563493"> a three bedroom house on O'Farrell Street on a 1,000 square metre block</a> asking $159,000 with rental expectations of $185 per week. This gives an indicative rental yield Saveof 6.05%
Despite disagreeing with Westpac's assessment of Broken Hill, Hickey says there are some “very good things on the horizon” such as the Wind Farm at Silverton purchased by energy group AGL, which is due to proceed.
AGL have also received approval for a large solar farm to be split between Broken Hill and Nyngan with energy provider purchasing 200 acres of land close to town.
“Hawsons (Carpentaria) Iron Ore project looks on track and they are completing their second-phase feasibility study at present.
"A cobalt mine project looks like it will go ahead approximately 28 kilometres from Broken Hill,” he adds, following the discovery of cobalt deposits several kilometres in length and up to 300 metres wide by Broken Hill Prospecting.
“[So] mostly still mining related and therefore still a one industry town.
Westpac took Broken Hill off its single-industry list in mid-June with a spokesperson saying the town had diversified into tourism while house price growth and yields were now back at sustainable levels.
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lschlesinger-FZcF9M3vE6

Tourism helps Broken Hill shed its one-horse mining town investment status - as Deloitte's questions mining boom longevity

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The historic Burrawang Cafe and Bower Cottage in the Southern Highlands will go to auction on August 26, using a controversial selling method known as the “reverse auction” or “Dutch auction”.
The property, at 11 Hoddle Street in Burrawang, has a starting auction price of $1.68 million and last traded for $690,000 in June 2002, according to RP Data records.
The café has been listed for sale since July last year with an original asking price in excess of $2 million.
It will be reverse auctioned by well-known auctioneer Damien Cooley.
Under a reverse auction, the price starts at market value (set by the vendor) – above the reserve price – and decreases until a bid is placed that is the winning bid. The winning bid is the first bidder to put their hand up.
"As a visual aid there will be a red and green light used at the auction and if a buyer has not put up their card before the price reaches the vendor’s bottom line then a red light will be displayed and the auction will be stopped. While ever the green light is on the property can be bought, " explains Cooley.
The reserve price is not disclosed beforehand and only becomes known once the red light appears.
Cooley says he believes this to be a "really different, exciting and inventive way of marketing a property" and says he is thrilled to join  Mooney and property owner Garry Harding in "performing this unique auction method".
To encourage more people to take part in the auction, Harding, has placed a $10,000 reward payable to anyone who finds the final official buyer.
If no one introduces the buyer then the buyer receives the $10,000 as a rebate off the selling price.
Burrawang Cafe is located in the main street of Burrawang, about 12 minutes to Bowral.
It dates back to the 1860s and has been fully restored.
The café and Bower Cottage (also of 1860s vintage) stand on a half-acre (0.2-hectare) block, and both are currently leased on rolling monthly leases.
Burrawang General Store Cafe is a fully operational 100-seat timber restaurant featuring floodlit barrel ceilings. It is fully licensed and includes a 3,000-bottle cellar, a landscaped and manicured English garden and a separate office.
Bower Cottage is a fully renovated three-bedroom weatherboard home on the same title complete with a promenade balcony and polished floors. It features a living and dining area with garden views, a fireplace with access to an alfresco entertaining area. It also includes a seperate studio.
The property is being sold by Raine &amp; Horne agent Rick Mooney.
Mooney tells Property Observer the vendor has requested a reverse auction, as he believes it will attract more buyers.
“We are confident we will get a lot of enquires and that it’s a good idea."
Mooney says letters have been sent to the NSW Department of Fair Trading and Real Estate Institute of NSW to ensure they are the “front foot” regarding the legalities of this controversial auction technique.
“We want this to be a positive story,” he says.
Christian Payne, president of the REINSW, says that officially the institute has not discussed the auction or taken a view on the methodology.
“It’s certainly been used to sell fish and tulips,” he says, in reference to its use at the Sydney fish markets and the origins of the technique – selling tulips in Holland for over 100 years.
Payne says the current legislation was not written with reverse auctions in mind and says regulatory issues could arise as a result of the Southern Highlands auction.
Speaking in his capacity as a real estate agent and general manager of Payne Pacific Real Estate in Cronulla, Payne says the reverse auction has “question marks all over it”.
His primary concern is that estate agents should be working for the vendor to get the maximum price.
In a traditional auction, Payne says people attending have the opportunity to increase their bid by say a $1,000 before the hammer falls, something that’s not possible under a reverse auction, where the first bid is final.
“Are we getting the maximum price for the vendor?” he asks.
The Burrawang Café is by no means the first reverse auction in Australia.
Alex Bartolo, from Raine &amp; Horne Narre Warren South, tells Property Observer he used reverse auctions successfully up till 2004 for about 12 properties and recalls that about seven or eight of them sold using this technique.
He recalls they attracted a lot of media attention at the time.
Not all of it was positive.
Bartolo was involved with a stoush with REIV chief executive Enzo Raimondo, who was then strongly opposed to what had become commonly known as the “Bartolo auction method”.
Raimondo told the Sunday Age in June 2004 that a reverse auction was “a gimmick and a fad” that Bartolo was using to differentiate himself in a tight market.
“I don't think a reverse auction is in anyone's best interests,” Raimondo says.
He added that Dutch auctions do not contravene the real estate act but only because reverse auctions weren't considered when the legislation was written. It was for conventional auctions.
“But it's not in the spirit of the legislation."
Raimondo declined to comment further on this issue when Property Observer contacted the REIV.
A spokesperson for the institute said it was best left to the REINSW to comment.
Bartolo, though, remains defiant and believes a reverse auction is fairer system than the traditional method because it does not hassle the vendor or purchaser.
He says the REIV view is “old fashioned” and says there are many in the industry who don’t like it when anyone changing the rules.
Bartolo says he has contacted the selling agent and suggested that the auctioneer announce when the reserve price has been met.
“Then bidding can continue and the winner bidder has the first right of refusal,” he says.
Cooley says its the first time he is undertaking a reverse auction.
"We only know of a similar method used many years ago in Victoria so it’s terrific to be apart of it. This method is an effective way of communicating to buyers the owner’s genuine commitment to selling the property so we’re looking forward to receiving a lot of interest on auction day”, he says.
Reverse auctions have been used at the Sydney fish markets since 1989.
At the fish market, the auctioneers set the target price of the fish each morning, based on quality, demand and the previous day's prices. They then add on $3. Prices are displayed on two huge electronic dials that hang from the ceiling; when the selling starts, the clocks count down at a rate of $1 per revolution, the cents racing by like milliseconds on a stopwatch, until the first buyer bids.
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Southern Highlands Burrawang café ‘reverse auction’ not the first, but still stirring up debate

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Townsville is forecast to be the strongest-performing regional location in Queensland between now and 2015, according to researchers BIS Shrapnel.
Property values in Townsville are forecast to rise by 6% per year over the next three years, with the regional city benefiting from rising investment in the resources sector over 2012-13, says BIS Shrapnel in its latest Residential Property Prospects, 2012 to 2015 report.
Townsville’s projected growth is just below the cumulative 20% forecast for Brisbane over the three-year period.
Further north, Cairns will also benefit from resources investment, with 5% annual dwelling growth to 2015.
The weakest growth prospects are on the Gold Coast and Sunshine Coast, with BIS Shrapnel forecasting capital growth of 4.2% per annum to 2015 due to a drop in interstate migration.
March quarter sales figures released by the Real Estate Institute of Queensland showed that Townsville has been one the strongest-performing Queensland municipalities, with just a 2% decline in house prices and no change in unit prices over the prior 12 months.
 In comparison Gold Coast house and unit prices are down 5.1% over this period.
<table style="width: 470px;" border="0" cellpadding="0" cellspacing="0">
<colgroup>
<col width="357">
<col width="64" span="4">
</colgroup>
<tbody>
<tr height="65">
<td height="65" width="357">Region</td>
<td width="64">Median Sale Mar12</td>
<td width="64">Qtrly change</td>
<td width="64">Median Sale 12mths Mar12</td>
<td width="64">1yr change</td>
</tr>
<tr height="20">
<td height="20">SOUTHEAST QUEENSLAND</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="33">
<td height="33" width="357">BRISBANE (SD)</td>
<td>$  425,000</td>
<td>0.0%</td>
<td>$  430,000</td>
<td>-5.5%</td>
</tr>
<tr height="20">
<td height="20">BRISBANE CITY (LGA)</td>
<td>$  505,000</td>
<td>1.2%</td>
<td>$  510,000</td>
<td>-4.7%</td>
</tr>
<tr height="20">
<td height="20">GOLD COAST CITY (LGA) +</td>
<td>$  454,375</td>
<td>0.7%</td>
<td>$  470,000</td>
<td>-5.1%</td>
</tr>
<tr height="20">
<td height="20">SUNSHINE COAST (LGA) +</td>
<td>$  430,000</td>
<td>0.6%</td>
<td>$  437,000</td>
<td>-6.0%</td>
</tr>
<tr height="20">
<td height="20">TOWNSVILLE CITY (LGA)</td>
<td>$  360,000</td>
<td>0.0%</td>
<td>$  365,000</td>
<td>-2.0%</td>
</tr>
<tr height="20">
<td height="20">CAIRNS (LGA) ~</td>
<td>$  350,000</td>
<td>4.5%</td>
<td>$  350,000</td>
<td>-4.1%</td>
</tr>
</tbody>
</table>
 
“With both Townsville and Cairns offering services to these mining projects, as well as a base for employees in and out of the projects, population growth should benefit with a rising shortage of dwellings emerging until new supply catches up,” says BIS Shrapnel.
“Moreover, the improvement in local economic conditions should also see confidence improve after a period of weakness. Townsville should expect a greater upside to its recovery due to its more diversified economy, although both markets should experience moderate price growth.”
The report notes that house prices on the Gold Coast and Sunshine Coast have generally moved in tandem with Brisbane due primarily to population growth driven by interstate migration.
However, due to interstate migration into Queensland now at long-term lows, BIS Shrapnel says the residential markets on the Gold Coast and Sunshine Coast have weakened considerably.
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Townsville has best regional Queensland prospects with smaller Gold Coast recovery by 2015: BIS Shrapnel

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10/4 Loftus Street, Ashfield, NSW 2131
<img src="/images/stories/2012/07/loftus.jpg">
The tenants of this two-bedroom unit are paying $405 per week and are on a lease until December this year. The property includes a lock-up garage and an internal laundry and is within walking distance of Ashfield shops, transport and parklands. 
LJ Hooker agent Michael Garcia<a target="_blank" href="https://www.ljhooker.com.au/JN5F8B"> is marketing the property</a> with price hopes of $430,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 4.9% at its current rent, just above the gross rental yield for Ashfield units of 4.5%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. Strata fees are about $661 per quarter, council rates about $227 per quarter and water is about $157 per quarter.
The median unit price in Ashfield rose 3.7% in the past year and 41.7% in the past five years, according to RP Data.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $7,000.
The property will be open for inspection Saturday, July 21 at 11am and will go to auction Saturday, August 11 at 11.15am.
For more information about prices and yields in Ashfield, see the RP Data suburb page.
For another investment prospect open for inspection this weekend, see page 2.
<hr>
27 Collett Street, Kensington, VIC, 3031 
<img src="/images/stories/2012/07/collett.jpg" width="470">
This two-bedroom Victorian cottage is currently tenanted at $400 per week until September, and Barry Plant listing agent Eugene Louey says comparable properties in the area rent for $450 per week. The property has high ceilings, open fireplaces and a rear courtyard or car park with right-of-way access. It is within walking distance of Racecourse Road, shops and cafes.
Louey<a href="https://www.barryplant.com.au/property.cfm?propertyID=2086437&amp;realestate=27_Collett_Street_KENSINGTON_VIC_3031&amp;menuItemID=41762" target="_blank"> is marketing the property</a> with price hopes of $540,000 plus, and if it sells for $540,000 that would secure an investor a gross rental yield of 3.8% at its current rent. If it were rented for $450 a week, that would mean a yield of 4.3%, above the indicative gross rental yield of 3.62% for Kensington houses, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
The median house price in Kensington fell 2% in the past year but rose 49% in the past five years, according to RP Data.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $7,000 and over five years to be $25,000.
The property will go to auction Saturday, July 21 at 11.30am.
For more about prices and yields in Kensington, see the RP Data suburb page.
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cknowlton-QnEa6ntUYP

Friday form guide: Yields of up to 4.9% in Ashfield

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They may be remote, dusty places steeped in more than a century of mining history, but Broken Hill and Kalgoorlie-Boulder are no longer risky places to lend money to property investors, Westpac has decided.
The bank has removed both regional locations from a list of “single-industry” towns where property investors will struggle to get a Westpac loan, ruling that house prices and rental yields are now at sustainable levels in these two postcodes.
However, it has added a host of regional mining hotspots to its “single-industry” policy, including Moranbah in Queensland and Port Hedland in WA as it pulls back from lending in what it deems unsustainable housing markets, according to an internal memorandum issued by Westpac to mortgage brokers obtained by Property Observer.
The post codes that have been added to the list are in Queensland:
<ul>
<li>Blackwater (4714)</li>
<li>Moranbah (4744)</li>
<li>Dysart (4745) </li>
<li>Middlemount and May Downs in the Isaac region (4746)</li>
</ul>
And in Western Australia:
<ul>
<li>Roebourne (including Karratha, Baynton, Bulgarra and Pegs Creek in post code 6714)</li>
<li>Port Hedland (including South Hedland in post code 6721)</li>
<li>East Pilbara (post code 6753)</li>
</ul>
For investors in these postcodes the bank says it will now discount rental income listed as security on mortgage applications by 40%, taking into account the risk of vacancies.
“An application with security in a single-industry town will have all rental income assessed at 60%,” says the bank in a note to mortgage brokers.
The new requirement is in addition to the rule that a 30% deposit is required in these postcodes for property to avoid the added burden of lenders mortgage insurance (LMI) – well above the usual 20% deposit requirement.
The policy changes apply to two investment loans – Westpac’s variable rate Equity Access Loan (EAL) and its fixed-rate investment property loan (IPL).
The decision to exempt Broken Hill is particularly surprising in light of its history.
The town of 23,000, situated 1,160 kilometres from Sydney, is the birthplace of what is now the world’s biggest mining company BHP Billiton and has a rich mining history dating back to the discovery of silver ore in 1883.
But Westpac spokesperson Danny John says in both Broken Hill and Boulder house price growth has pulled back while rental yields are in a more sustainable range.
“Broken Hill is still reliant on mining, but it has diversified into tourism. There are now lower mortgage delinquency rates, while house prices have slipped back and rental yields are between 5% and 6%.
“Boulder is still reliant on mining, but has stable house prices and rental yields of about 7% with the housing market in pretty good shape,” John says.
In November last year Hotspotting.com.au’s Terry Ryder – who is generally wary of recommending traditional mining hotspots – wrote that Broken Hill should no longer be seen as just a one-horse mining town.
“Traditionally reliant on mining and agriculture, Broken Hill is developing new economic drivers, including tourism and the arts,” Ryder said.
Ryder quoted Broken Hill mayor Wincen Cuy as saying that visitors find it to be “bigger, greener and cleaner” than they expect.
As to the decision to add the WA and Queensland mining towns to the list, John says Westpac is concerned that in these locations the mining boom is driving house prices and rental yields to relatively unsustainable levels.
As an example, he says house prices have jumped 44% in Moranbah with yields at 13.5%, with property valuers telling Westpac that these figures are not sustainable.
Real Estate Institute of WA president David Airey says the changes probably reflects a view from within the bank that “housing prices and rental returns in particular, in places like Karratha, Port Hedland, South Hedland and Newman are unsustainable”.
“The state government is anxious to address affordability in the Pilbara, and while this won’t happen overnight it’s clear that housing demands will be better met over the next few years.
“In contrast, the steady growth and more affordable market of Kalgoorlie-Boulder perhaps offers greater confidence to lenders,” he says.
Airey says Westpac has the right to “calibrate its business model as it sees fit”.
“But it would be a pity if the result meant that investors were less inclined to supply much needed housing in the state’s northwest. In some ways it’s a Catch-22 situation,” he adds.
Real Estate Institute of Queensland (REIQA) CEO Anton Kardash says lending criteria for remote areas has been restricted for some time given these areas are often reliant on single industries for employment.
“Investors in these areas need to be aware that lenders will require a larger deposit dependent on the element of risk lenders attribute to buying property in a specific region.”
Jane Slack-Smith, director at Investors Choice Mortgages, says the change in policies indicate that Westpac is less keen to lend in mining locations.
“The bank is discounting rental income to allow for vacancies,” she tells Property Observer.
Slack-Smith says Westpac is implementing these changes in places like Karratha despite her clients being able to ask rent of $2,000 per week over a five year lease.
“Some lenders will take 100% of rental income, but Westpac only takes 60% of income.
“Some lenders don’t have postcode restrictions,” she says.
Broken Hill and Kalgoorlie images courtesy of <a href="https://www.flickr.com/" target="_blank">Flickr</a>.
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Broken Hill and Kalgoorlie no longer as risky for property investors but some mining towns unsustainable: Westpac 

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There is a wide range of opportunities for property investors with a “lazy” $500,000 to invest and a creative mindset, according to the July edition of the Herron Todd White Property Market report.
Herron Todd White says the results of this year’s “lazy half million issue” show that “market performance has varied as much as the landscape”.
Investment options range from buying an older house in western Sydney on a large block and adding a granny flat, investing in four-bedroom homes near Newcastle University and converting them into student accommodation or considering a worker’s cottage in East Brisbane.
Here are 15 eclectic investment opportunities for savvy investors with $500,000 to invest:
Build a granny flat in western Sydney (rental returns of between 6.5% and 7%)
Investors should consider purchasing a circa  1960s to 1970s dwelling on 650- to 700-square-metre allotments and erect granny flats on the rear of the allotment, thus creating two separate tenancies. According to HTW, this type of investment has grown from a trickle to a flood and is mainly taking place in the Penrith Council area, although it has started to creep into neighbouring Blacktown Council area as well. Typically the investor is paying somewhere between $280,000 to $330,000 for the existing dwelling and between $60,000 to $80,000 for the granny flat plus spending an extra $25,000 on sprucing up the original dwelling. According to HTW the dual tenancies can generate monthly rent of $600 ($350 for the main house and $250 for the granny flat) with vacancy rates at practically 0%. HTW considers granny flats the “best investment from a rental return basis in the western suburbs”.
Convert a four-bedroom house close to Newcastle University into student digs
Investors should look at the Newcastle suburbs of Birmingham Gardens and Jesmond close to Newcastle University in Callaghan. HTW says investors are buying four-bedroom homes and turning them into six- and eight-bedroom residences and then renting the rooms separately to students. “Although rental returns are higher (as, however are the management costs), it is important to ensure that the right approvals  are in place otherwise you might find a nasty surprise  when the bank comes to value the property and you find its still valued as a four- bedroom home,” warns HTW.
Buy a pre-1980s houses in Port Macquarie and Forster
Investors should look for houses close to either the town centre or beach priced from $270,000 to $340,000 in Port Macquarie and Forster on the NSW mid north coast. HTW says the remaining $160,000 to $230,000 could be used to acquire a pre-1980s two-bedroom unit within the same location parameters. According to HTW, houses in the low to medium price range offer the greater likelihood of lower vacancy rates, higher yields and better potential for capital growth. Investors should avoid modern high-rise units in Forster in the $400,000 plus price range, as the market remains oversupplied.
Buy workers' cottages in East Brisbane
HTW says entry level workers cottages with two-bedroom, one-bathroom configurations can be bought below the $500,000 mark. “The suburb is frighteningly close to the CBD and facilities abound. Renters are readily available so the upside is once again a good thing,” says HTW.  For something a little bit more flash in the same suburb HTW suggests a circa-2000 unit with a two-bedroom, two-bathroom layout for around the $425,000 to $450,000 mark would rent for around $440 per week.
Buy a detached post-war home in Camp Hill or Coorparoo
Investors can pick up a detached post-war three bedder in Camp Hill or Coorparoo on a 600-square-metre block.  The suburbs are about 1o kilometres south east of the Brisbane CBD, with “facilities are around the corner” and “renters keen to be there”. According to HTW, these assets also look good for a long-term future sale.
Buy an older house close to the beach at Wollongong
Investors should consider buying an older house close to the beach at Towradgi, Fairy Meadow and East Corrimal just north of the Wollongong CBD. From an investment perspective good capital gains coupled with high rental returns can be found in Fairy Meadow, with the suburb benefiting from the expansion of the University of Wollongong, Innovation Campus and an improvement of public transport to and from the suburb. It is also close to the F6 freeway to Sydney.
Source: HTW
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Buy one- and two-bedroom unit in Brunswick, Melbourne
Brunswick, Brunswick East and Brunswick West “tick a lot of the boxes” for investors looking to get maximum capital growth and good rental returns. More specifically investors should look to purchase a one-bedroom, one-bathroom apartment built within the last five years, or perhaps an older-style (10 to 25 years old) two-bedroom apartment. Brunswick and the surrounding suburbs are among one of the best served by public transport, with a train line and tram service running into to the CBD, further enhancing and strengthening the suburb’s desirability.
Buy a one- or two-bedroom unit close to Sydney CBD
Investors should consider one and two-bedroom units close to Sydney CBD, in the inner west as well as around the inner-city suburbs of Redfern, Waterloo and Zetland.  HTW valuers say it is a good time to buy in these areas because they offer strong rental returns with low vacancy rates. “What’s more, the market has softened resulting in the ability to achieve good purchase prices.”
Buy a semi-modern project home in East Bowral
Four-bedroom detached houses in East Bowral in the NSW Southern Highlands are selling for between $420,000 to $450,000 and generally secure rental rates of between $400 to $500 per week, equating to a gross yield between 5.2% and 5.7%
Renovate an older building in Goulburn
For investors seeking capital growth older-style dwellings in Goulburn in the NSW Southern Tablelands sell for between $250,000 and $320,000, suggesting that significant value uplift may be possible through renovation. Currently houses priced between $330,000 and $450,000 attracts rentals of $350 to $450 per week, representing a gross yield of around 5%.
Buy two or three units in Goulburn
Another option in Goulburn for investors would be to purchase multiple residential units or townhouse/villa properties for between $150,000 and $200,000 each and rent them out for between $150 and $200 per week. According to HTW, this market has shown good capital and rental growth earlier this year and is now considered to be steady.
Look at properties priced above $350,000 in Ballarat
HTW suggests investors look at properties over $350,000 as they appear to represent the best opportunity with fewer buyers in this market segment, more homes to choose from and more time to negotiate. The overall Ballarat market looks strong with yields of up to 8% on offer on units in the outer suburbs.
Consider south Perth suburbs close to airport
HTW suggest investors consider the Belmont, Cloverdale and Kewdale areas south of the city. In these suburbs there is strong demand for rental properties from the state’s "fly-in fly-out" mining workforce and they are located close to Perth airport. Furthermore, generous density allowances and a cooperative council mean that many properties within this area offer good short to medium term redevelopment prospects.
Buy two modern townhouses in Mildura
Investors should consider buying either two modern townhouses, each on around 350-square-metre lots, or two older three-bedroom homes, on larger lots of around 700 square metres. HTW says a tight rental market has pushed up rents up in the past 18 to 24 months, with gross rental return of 6% on offer.
Buy a newer home near Wyong on the NSW central coast
HTW suggests newer areas like Woongarrah, Hamlyn Terrace, and Wadalba near Wyong on the NSW Central Coast are “loaded with good value homes in and around the $500,000 mark”. These are areas popular with young family areas and populated with four- bedrooms, double garage on good sized blocks. “These are the areas which stand to benefit from future infrastructure projects courtesy of a progressive council. The government’s new first home buyer scheme that commences in October is also likely to play a big role in these areas. Early risers and the astute will certainly benefit here,” says HTW.
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From western Sydney granny flats to East Brisbane workers’ cottages:  15 eclectic investment opportunities under $500,000: HTW

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The advantages of starting your business from the comfort of your own home are clear – you keep your overheads to a minimum, you eliminate the daily commute and you can be flexible with your hours. 
But there a number of myths that surround home working. Many people can’t grasp that a serious business, rather than a hobby, can be built from your home. 
So, if you’re weighing up whether to launch your business from the spare bedroom or kitchen, here are 10 common misconceptions you must be aware of:
1. The hours are easy
<img src="/images/stories/2012/07/clocksus.jpg">
It’s tempting to think that running a home-based business involves a few hours on the computer in the morning, a nice leisurely lunch, maybe a phone call or two in the afternoon before an early finish. 
However, if your business is to be anything other than a mildly diverting sideline, you will have to put in the work. 
“When you’re by yourself, you do everything – bookkeeping, marketing, sales, the lot,” says Cas McCullough, who runs social enterprise <a target="_blank" href="https://mumatopia.com/" rel="nofollow">Mumatopia</a> and <a target="_blank" href="https://www.supportawahp.com/" rel="nofollow">Support a Work At Home Person</a> from her house. 
“All of this takes a lot of time and people underestimate this. They often take things on as a hobby and then find it is very popular and organically grows. They don’t think long term.” 
Set a strategy for your business early on, have an in-depth business plan. And consider outsourcing – it’ll save you time.
This article originally appeared on <a href="https://www.startupsmart.com.au/" target="_blank">StartupSmart</a>.
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2. You can sit back and get rich quickly
<img src="/images/stories/2012/07/chairsus.jpg">
Despite what the endless ads tell you, there aren’t many jobs that will earn you big bucks just by staying at home making the odd phone call. 
“You look at the content behind those stupid Google ads about homeworking and it promises that you’ll be working for about seven minutes a day,” says McCullough. 
“You can be a success if you have the right business model but, if not, you’ll fall on your face.” 
“People who are pushed into home working because they lose their job or think they will get rich quick are more likely to fall over. They set up a Facebook page and wonder why no one has turned up.” 
“It’s better to start a business that you’re passionate about. You’re then more likely to be proactive and engage with people.”
 
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3. You don’t need to spend money on day care
<img src="/images/stories/2012/07/daycaresus.jpg">
For busy parents, working from home may seem like the ideal solution – not only do you see more of your family but you also save money on day care for your children. 
Right? 
“You will occasionally, if not regularly, need a babysitter for your children,” says McCullough. “I have regular care once a week and sometimes my husband can help out, but you need the balance as you will need to go out for meetings.” 
“Also, your business commitments won’t keep to normal working hours, when your kids may be at school.”
 
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4. It’s not a real job
<img src="/images/stories/2012/07/realsus.jpg">
Perhaps the most hurtful myth about home-based working is that it is somehow a lesser job. That it is a frivolous hobby for bored mothers, rather than a platform for fast-growth businesses, ignoring the fact that the likes of Google and Amazon started life as home-based start-ups. 
“A lot of people tell me that it’s not a real job and I can see the irritation that causes others who work from home,” says McCullough. 
“It has got a bit of a bad rap, but just look at the number of people who work from home. Look at what many of them go on to achieve. They are worthwhile businesses and they are contributing to the economy.”
 
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5. All you’re doing is moving your job to your home
<img src="/images/stories/2012/07/jobhomesus.jpg">
 If you’re moving from a corporate career to working from home, it’s natural to think that you can just supplant your previous working life and routine into your new one. 
Jane Shelton, managing director of <a target="_blank" href="https://www.propertyobserver.com.au/https://marshallplace.com.au/node/41" rel="nofollow">Marshall Associates</a> and author of No Workplace Like Home, advises: “It's always nice to have a steady routine in a large corporation, where there are colleagues at hand to address the various competing demands of the clients and superiors, but when the only boss you have to blame is yourself, the rules of the game must change.” 
“Time schedules have to be modified to address your role in the value chain, the demands of business development, the schedules of family, friends and of course competitive suppliers of your products and services.” 
“A better way to respond to the time schedule and routine is to look at it as a question addressed by your business and marketing plans.” 
“You will find that the way that you go about the only real task of business – creating and corralling customers – relies on a systematic focus on staying within the decision-making cycle of your clients, customer and business communities of interest.”
 
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6. You don’t have to worry about health and safety
<img src="/images/stories/2012/07/healthsafesus.jpg">
If you are wallowing in a messy, potentially dangerous home-based office, you risk more than being called a slob. 
Not only is your own health and safety important if you are to keep running your business, but any staff and clients will need to be protected too, as a recent case where Telstra had to pay medical and legal costs for an injured home worker highlighted. 
“Ensuring that your home is a safe workplace doesn’t happen by chance or guesswork,” Shelton says. 
“It requires a systematic approach to finding and fixing hazards and risks and any particular circumstances that apply to your home working base.” 
Shelton advises going through five key steps to get your OHS in good shape:
<ol>
<li>Finding hazards that could hurt the people who either live, work or visit your home.</li>
<li>Family forums that bring together all of these people on a regular basis to make sure that they are as safety conscious as you are and undertake the safety drills that are an essential part of hazard awareness.</li>
<li>Figuring out how the people in and around your home life could get hurt and working life hazards (the level of risk).</li>
<li>Fixing identified problems by sorting out and installing the most effective risk controls that are reasonably practicable under your circumstances.</li>
<li>Following through on your risk controls and checking that they are working to cope when things do not go according to plan.</li>
</ol>
 
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 7. Your home life will remain exactly the same
<img src="/images/stories/2012/07/homelifesus.jpg">
Home is a nice place to relax and turn off after a long, hard day at work. Surely, if you spend all day there, you will be permanently in the comfort zone? Shelton has some words of warning. 
“Firstly, map your own interests and personal priorities and then set out how the start-up is going to help you achieve your objectives,” she says. 
“Be honest with yourself and answer these core questions: How will this venture change our way of life? What do I really like doing, and how will it shape my family's future?” 
“Who can support me while I get the business up and running? Where will all this take us and what will it cost to succeed?” 
“Then you need to set aside a fixed amount of time for your business homework, when the kids have done theirs and get partners and friends to share the burden of developing your start-up as an adjunct to your family life rather than an alternative to it.”
 
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 8. Clients won’t take you seriously
<img src="/images/stories/2012/07/jestersus.jpg">
Many budding entrepreneurs fret about the impression left upon clients by their home office. 
Obviously, you don’t want to hold an important meeting with a key client while you are both wedged on the sofa, trying to ignore the child that is watching cartoons on the TV. 
But this doesn’t mean that it’s impossible to convey a professional demeanour to clients. 
If they have to come to your house, set aside a room for meetings and ensure there aren’t any interruptions. Better still, hold the meeting at a café or at a serviced office that you can rent out by the hour. 
There are other tricks to making your business appear bigger, such as adopting a 1800 telephone number, but, ultimately, your customers will primarily care about the products or service you provide them. You working from home shouldn’t be a factor.
 
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 9. There’s no good financial reason, other than cutting overheads
<img src="/images/stories/2012/07/chestsus.jpg">
A common rationale for working from home is the money it will save you on office space, furniture and commuting. 
But don’t be fooled into thinking that there is little other financial reason to working from home other than the overheads you’ll save on. 
Australia’s tax code is fairly generous for entrepreneurs with home offices, with deductions offered for factors such as electricity, cleaning supplies, depreciation of office equipment, mortgage interest, rent, rates and insurance. 
Indeed, the Tax Office provides a “bonus deduction” of 50% for small businesses with qualifying assets.
 
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10. Being at home all day is awesome
<img src="/images/stories/2012/07/paperworksus.jpg">
Office dwellers commonly think that working from home is an indulgent luxury that they’d give their right arm to experience. 
In reality, working from home by yourself for a long period can be quite taxing. Entrepreneurs often miss the collaboration and interaction that comes with working alongside colleagues. 
Shelton says: “You need a staged plan that lists the people who are your keys to success. This means that you identify business leaders, distributors and potential customers who you plan to meet and greet.” 
“By doing this you are proactively establishing what’s new and different and can overcome that sense of being cut off by your start-up activities.” 
“Pick up the phone, send them an email and invite their comment on what you are doing.”
This article originally appeared on <a target="_blank" href="https://www.startupsmart.com.au/">StartupSmart</a>.
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